News

JSC Kazkommerts-Life has chosen INSIS pre-configured life system (INSIS PLS) for automation of its business processes for contracting and post-sales services of life insurance contracts

On 9 October 2009 JSC Life Insurance Company Kazkommerts-Life (affiliate of JSC Kazkommertsbank) and Fadata AD signed a contract for the development and implementation of PLS INSIS. INSIS PLS includes a set of standard operating modules of INSIS for automation of insurance business processes. All operations within the system concerning the contracting, reporting and maintenance of life insurance contracts will be performed in real time. In addition to the standard modules, INSIS includes settings for the terms of insurance for six life insurance products. The regional divisions of the Company on the territory of the Republic of Kazakhstan will get direct access to the information system in order to carry out their everyday operations. The agreement signed between the two companies is the first and unique contract in the Republic of Kazakhstan with Fadata AD regarding the implementation of a pre-configured life insurance solution.

The project is supposed to be implemented in two stages. The completion of the first stage of the project concerning the configuration and delivery of the INSIS PLS to Kazkommerts-Life is scheduled for May 2010, when all modules of INSIS PLS will be tested and deployed and life insurance products’ terms will be configured.

About Kazkommerts-Life

Life Insurance Company Kazkommerts-Life was established in September 2006 as a daughter company of one of the leading banks in the country - Kazkommertsbank, which owes 100% of the Company's shares. Kazkommerts-Life holds license №42-2/1 from 14.04.2008 for insurance and reinsurance operations. In terms of the results for 2009 the Company is among the first three life insurers in the Republic of Kazakhstan. The market share of the Company is 19.4% as of 01.01.2010. Kazkommerts-Life has a network of regional branches in 18 cities in Kazakhstan.